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Boiler Market Report

RA00091

Boiler Market, By Application (Paper & Pulp, Chemicals & Petrochemicals, Metal & Mining, Food & Beverages and Others), By Fuel (Oil & gas, Fossil, Non-Fossil, Biomass), Regional Outlook (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026

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Global Boiler Market Insights 2026:

A boiler is a surrounded vessel in which liquid such as water is heated to produce condensation or form a vaporized liquid. The boiler includes a container with a locked vessel in which fluid is kept and heated with the help of hot gases which are generated from the burning of fuels like natural gas, coal or fuel oil which burn in a boiler or form electrical coils. Basically, there are two types of boilers, fire tube boiler and water tube boiler. Fire tube boilers are used to boil liquid substances with hot gases in various tubes. Water tube boilers are used to boil the liquid substances using hot gas surrounded by the vessel. The design of the boiler, functions and maintenance must comply with the international safety standards and regulations to ensure efficiency, reliability and safety to prevent hazards associated with boiler failures which can lead to explosion. If the boiler is huge, the fuel will be too much and if the boiler is small then it may not able to generate enough heat during winter. Thus, the size of the boiler should match the size of the facility to get the optimum result.

Rise in the demand of food and beverages is predicted to be the major driving factor for the boiler market

Increasing demand for the boilers from the food and beverages industries are predicted to be the major driving factor for the boiler market. Tube boilers are mostly used in the food and beverages industries with low capacity requirements. Food and beverages are one of the rapidly growing sectors with continuous increase in the consumption of the food products. Boilers in the food and beverage industries are used for sterilization and disinfection of tools and utensils, distillation of beverages and prevention of microbiological threats. Due to these aspects, boilers are used widely, and this eventually gives a boost to the market growth. In addition, the rising demand for boilers across the globe is also predicted to be the major driving factor for the boiler market. The government is also investing heavily in the development of existing power plants and construction of new facilities due to the rising carbon emission, which has led to technological advancement in the manufacturing and construction of boilers.

High installation cost is considered to be the major restraints for the boiler market.

The high cost for the installation of the boiler is considered to be the major restraints for the boiler market. The boiler costs are considerably high due to the design structures and after sales services. The installation of boiler and advanced technology in industrial boiler makes them costlier as compared to the traditional boiler. The boiler requires a huge capital which make a huge restraint for the new entrant. In addition, the steam produced for the requirement of the process with the existing installation with limited space is predicted to hamper to the growth of the market.

Boiler Market Segmentation, by Application

Food and beverage application to be the most lucrative by 2026

Food & beverage industry is predicted to have the highest growth rate in the forecast period. Food and beverages require continuous demand for heat or steam at various stages which includes cleaning, steaming and processing. A boiler is a necessary component for any food manufacturing facility. Moreover, the boilers are also used to generate hot steam for cleaning purposes, heat massive cooking pots or ovens, supply steam for batch processing and other procedures for the preparation of food and other tasks. Due to these several reasons the food and beverages application is further predicted to gives boost to the boiler market.

Boiler Market by Fuel

Fossil fuel will possess high investment opportunities in the coming future

Fossil fuel segment is predicted to have the highest growth in the forecast period. Fossil fuel power stations provide most of the electrical energy used in the world. Fossil fuels use steam for the generation of power and the primary heat source is combustion of oil, natural gas and coal. In many cases carbon monoxide can be burned to heat the boiler. Fossil fuels are economically available and can be used without any restrictions. The structure of the boiler depends on the combustion technology that has been selected. In addition, fossil fuels are also mostly used in the steam turbine, gas turbine or in a small plant reciprocating gas engine.

Boiler Market by Region:

Asia-Pacific is accounted to have the highest growth in the forecast period

Asia pacific was accounted to be the highest user of boilers. Asia-Pacific region is a major market for boilers due to the increase in industrialization. In addition, the increase in population and significant rise in the investments toward urbanization has made the Asia-Pacific region one of the major users of boilers. In addition, the boilers can achieve zero CO2 emission due to which developing countries are replacing their conventional boilers. The above-mentioned reasons are predicted to drive the boiler market in the Asia-Pacific region in the forecast period.

Key Participants in the Boiler Market

The major key players in the Boiler Market are AC Boilers, IHI Corporation, Cheema Boilers Limited, Harbin Electric Corporation, Mitsubishi Heavy Industries, Ltd., Babcock & Wilcox Enterprises, Inc., Forbes Marshall, Bharat Heavy Electricals Ltd., Siemens AG and Thermax Ltd. among others.

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2018

  Forecast timeline for Market Projection

  2019-2026

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Type

  • Paper & Pulp

  • Chemicals & Petrochemicals

  • Metal & Mining

  • Food & Beverages

  • Others

  Segmentation by Application

  • Oil & gas

  • Fossil

  • Non-Fossil

  • Biomass

  Key Countries Covered

U.S., Canada, Germany, France, UK, Italy, Japan, China, India, South Korea, Australia, Middle East, Africa

  Key Companies Profiled

  • AC Boilers

  • IHI Corporation,

  • Cheema Boilers Limited

  • Harbin Electric Corporation,

  • Mitsubishi Heavy Industries, Ltd.,

  • Babcock & Wilcox Enterprises, Inc.,

  • Forbes Marshall,

  • Bharat Heavy Electricals Ltd.,

  • Siemens AG

  • Thermax Ltd.

 


Frequently Asked Questions
 

A. Mitsubishi Heavy Industries, Ltd., and Siemens AG are some of the key players in the global boiler market.

A. Asia-Pacific possesses great investment opportunities for the investors to witness the most promising growth in the coming years.

A. Product development are the key strategies opted by the operating companies in this battery market.

A. Mitsubishi Heavy Industries, Ltd., is the companies investing more on R&D activities for developing new products and technologies.

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